Consumers were asked to specify the type of financial institution they would consider for a vehicle loan if they needed such credit in the near future. 

Three out of ten (29%) of all households report that they will look to their primary financial institution as the source for a vehicle loan.  

Twenty-two percent of all households view credit unions as the second source/option for a vehicle loan. 

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About RFG’s national consumer research

Financial institutions receive national consumer research through RFG’s Strategic Planning Study Group (SPSG), a marketing research program consisting of semi-annual consumer surveys on current industry topics derived from RFG’s research process.

Based upon 1,155 survey responses of a randomly drawn sample of members of a nationally representative direct mail panel, the consumer responses used in this study were weighted to reflect the nation’s demographic composition. The study’s confidence interval for any proportion gathered in the survey is in a range of 1.7% to 2.9% at the 95% level of confidence.

For more information about RFG’s national consumer research, visit www.raddon.com/spsg.

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